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Updated almost 7 years ago on . Most recent reply

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Josh Fernandez
  • Rental Property Investor
  • Greenville, SC
4
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25
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How do I put properties in to LLCs?

Josh Fernandez
  • Rental Property Investor
  • Greenville, SC
Posted

Sorry if I posted this in the wrong forum. So, I started a rental property company, with in the last month, and my mother would like to put her townhome (her rental property) in my company's name as the "inaugural rental property". The company has not had enough time to build any capital, as I am out of town for the rest of the year. How do you go about putting a property into an LLC? I'm sure there is more than one way to do this, just looking for my best option in my current situation. You guys are great.

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97
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Tobey Porter
  • Investor
  • Huntingtown, MD
41
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Tobey Porter
  • Investor
  • Huntingtown, MD
Replied

The way I've done it in Ohio is to just have a title company do a quit claim deed.  Admittedly I'm a beginner to but that is how I've done it. 

One note - if your mom still owes on her rental property, make sure you check with the lender.  I've heard some banks will/have the right to call your note.  Not sure if this is an empty threat or whether is actually happens but definitely something of which to be aware.

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